As a manual trader I need to ask a question.

Why do the simplest of strategies that work well seem to be ignored by the people looking for Expert Advisors?

Here is an example of an entry for M30 that I use very much in my manual trading and it very seldom lets me down.

Firstly let me say that I am not going to go into any detail as to how I determine trend etc, everyone has their own idea's, just use whatever suits you, MA crossover, extended MACD, whatever.

Determine the trend direction on the D1 chart, check if the H4 is in the same direction?
If it is, check the H1, if this is also in the same direction, open a trade on the M30 in that direction as soon as the M30 agrees.
If you want to get clever, open a trade in that direction for every new candle as long as the m30 is still moving in the right direction and H1 is still confirming the trend.

When the H1 stops agreeing with the D1 and H4, stop trading and wait for everything to line up again or for the complete reversal.

Use any exit strategy you like, as long as it's not to tight it will be fine, Bollinger on H1 would be a good start if you have no idea what to use or just a simple Trailing Stop.

If you trade with the trend you can very seldom go wrong as long as you do not get silly and go looking for trends that aren't fully defined.

So simple, so effective, and yet no one seems to use it?

Maybe it's to slow and there is not enough action?
If that is what you think, try it and have a look at your balance after a month, you may just be pleasantly surprised and you will have more time for other things.

__________________
FatCat
http://www.ovenstone.net

You want my secret?

It will work.
But we may have one problem. If we are talking about M30, H1 and so on timeframes so the reversal of the trend will be started from M30, then and may be H1, then and may be H4 and so on. Direction of the trend is changed starting from more smaler timeframe so ...

So, if we are confirming the trend direction using more higher timeframes so the next problem to solve will be the following: where to enter the market. It is the better to enter (open the order) in the beginning of the trend. Or, at least, in the middle to avoid reversal of the trend. And it is related to some indicators and it will make the whole system to be a very complicated sometimes.

Establishing the trend seems trivial for a manual trader, but its hard to fully automate... Whipsaws, you know... But, that said, I'm all in favor of simply strategies, and using multiple timeframes may have merit.

yupsss it's so simple and profitable...all you need is patient to see all trend conform ...I'm prefer use zigzag indicator to determine the trend ..

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Hi ND
Yes. you are 100% correct, and I have tried to address this in the creation of an EA which can be found here;
Bliksem (Counter Trend EA)
Except that I found the EA performed better against the trend if traded in martingale type fashion.

I did try to find the original which had a very good success rate, but it seems it has been bastardised beyond recognition over time and it would possibly be best for someone to start a new EA if they were so inclined?

__________________
FatCat
http://www.ovenstone.net

You want my secret?

Hi Zuijlen

Multiple time frames is the key to success, no doubt about that in my trading.
I also use M15 as a "warning bell" when trading, but didn't find it worth mentioning before.

__________________
FatCat
http://www.ovenstone.net

You want my secret?

Hi Prasxz
You are aware that all ZigZag indicators repaint? If you have one that does not, I would be much obliged if you could post a copy for the rest of us.

Thanks in advance.

__________________
FatCat
http://www.ovenstone.net

You want my secret?

This sounds very much like the developement over on the Steinitz method ea thread i've been watching. Trades are executed based on confirmation of trend on other timeframes.

Thanks mikl_73112

Then I must apologise for starting this thread, I'll search for that method and have a look at what is going on.
I did read somewhere that Robert Hill (MrPip) was involved in an EA like what I described above, maybe that is it.

Thank you.

__________________
FatCat
http://www.ovenstone.net

You want my secret?

that's right ZZ is repaint ..but I only see second point from the last ...not the last point ...

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